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Trump’s tariffs aren’t hurting eurozone yet, says ECB

Tariffs imposed by the US on European goods have not resulted in serious damage to European exports, says the European Central Bank.

In an article in the ECB’s monthly economic bulletin, economists Vanessa Gunnella and Lucia Quaglietti examine the effects of recent tariffs and attempt to predict the impact of future protectionist policies. While the tariffs have reduced confidence within Europe, their effect on trade itself has been unexpectedly minor.